Where did it all go wrong for Wonga?
Pressure from claims management firms and regulators could bring an end to the deflating payday lender
Just when things were meant to be getting better for Wonga, it emerged at the weekend that the payday lender’s investors had to rescue it with a £10m capital injection.
The emergency fundraising is the latest episode in Wonga’s rapid rise and fall. Just six years after the company was touted for a flotation that would have valued it at more than $1bn (£770m), it is reported to be worth just $30m.
Source: The Guardian